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between the president and congressional leaders. could their plan be the key to stopping america from going over the fiscal cliff? this exclusive event is next right here on this special edition of the "closing bell." iy stock screener, you can try strategies from independent experts and see what criteria they use. such as a 5% yield on dividend-paying stocks. then you can customize the strategies and narrow down to exactly those stocks you want to follow. i'm mark allen of fidelity investments. the expert strategies feature is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. >>> all right. welcome back. we have a hot show for you today. we are getting down to the brass tax on the fiscal cliff tomorrow. president obama and congressional leaders meet face to face with the clock ticking to new year's on the fiscal cliff. for nearly two years, the one plan that has gotten the most support among those outside of washington and even inside has been the simpson/bowles plan. the two, of course, chaired president obama's deb
would say 70 to 80% of the growth will come outside of north america. mainly in asia. we'll get to 1,000 stores toward the end of the '13 calendar year in china. a week ago at this time, i was in mumbai, india, where we opened our first of three stores. so we're in a situation right now where, you know, again, i don't want to overstate anything given the backdrop of the economy, but the company is firing on all cylinders. we're very optimistic about the holiday season. as i said, we're beginning to see many of the things that we put in place in the u.s. business in 2008 during our own transformation beginning to take hold in western europe. it's going to be a long-term effort, but we're seeing the siti signs that give us cautious optimism. >> what about that european business and the just announced $40 million profit in 2011? but also, people are talking about a $60 million loss reported to tax authorities in the u.k., germany, and france. some are saying investors are being told one thing and the company is reporting something else. can you clarify this for us, howard? >> sure, i ca
expenditures. america is still the best there is. so to me, this is the greatest engine. it's growing slowly. it's waiting to be ignited. i have enormous respect for the president. i just think that business and government collaborating as a much better chance than an tag nating. if president obama is re-elected can it be fixed? of course. most ceos i know i want to work with government. they want to make things work. they want to create jobs, opportunity for everybody. hopefully that need will go back and it'll take everyone a little bit to say, let's just start collaborating. let's get our hands together. let's get this country working again and stop fighting each other all the time. that's not going to get us anywhere. >> you made a lot of changes. you revamped your cio office. you revamped putting two co-operating chiefs in charge. people are wondering, is it enough what you did? in other words, how punitive will regulators come down on you? what kind of sanctions or fees, anything on the horizon that we should expect from the investment community? >> look, we've shown all these possibil
of the 1% vilification. the way a person becomes wealthy in america is having an entrepreneurial dream and serving other people well. if you serve customers well in america, you can become wealthy. we used to think that was a good thing during this election cycle with a president leading the way it was vilified. it's outrageous and should stop. >> the vilifying really has to stop already. there's an american dream and an aspirational issue here. you know, people want to climb the ladder and do well. when you say things like, you know, rich people don't pay their fair share, it gets my back up. i know the tax rates. i know what people pay and don't pay. that's an umbrella statement. it's not true. so let's keep the talking points aside. let's have a real conversation. >> of course it's an aspirational country. that's precisely the point. obama has aspirations for people. mitt romney did more than the president could have done in vilifying himself to ordinary voters. i mean, you can't help the fact that mitt romney said i like firing people. you can't help the fact that mitt romney said
of banks are on the upswing. let's go through them. isi upgrading bank of america saying the bank has mtie capital ratios and lower operating costs. that's pushing shares up almost 2%. we're up as much as 2.5% minutes before the close. u.s. regulators approve jpmorgan's $3 billion stock buyback. that was lifting shares earlier. as you can see, finished lower with the rest of the group at the end of trade. hospital stocks did soar wednesday now that we know obamacare is likely here to stay. now hoptd names are selling off. down about 4% or more. those concerns about coal persisted in thursday's trade. they continued to slide lower as investors bet the president's re-election will lead to increased regulation for the industry. we know mitt romney was more of a fan of coal stocks. but he will not be our president. we now know. mar maria, back to you. >> court, thanks. meanwhile, what's the deal with groupon? the daily deal website's latest results out just minutes ago. we'll talk about what groupon needs to survive. the story next. plus, more on this busy edition of the "closing bell." >>> co
goals. today, our financial advisors lead from a new position of strength. together with bank of america, they have access to more resources than ever before. a steadfast commitment to help you achieve your financial goals in life. that's the power of the right advisor. that's merrill lynch. come pre-filled with problems. enough is enough. introducing the chase liquid reloadable card. with chase liquid, there's no waiting and no fee to activate you can load cash and checks at any chase depositfriendly atm and there are no withdrawal fees at over 17,500 chase atms all for one flat fee of $4.95 per month. get rid of prepaid problems. get chase liquid. snoou. >>> the fiscal cliff deadline is 35 die as way, right? >> yes. kayla has a deal she wants to tell us the story about. >> a deal interestingly in the real estate space, two commercial real estate companies, avalon bay and equity residentials buying archstone. this is kind of like what happened to lehman brothers. this is pretty much the bulk of what's left of lehman being sold to these two companies for about 6 6$6.5 billion. interestin
nancy ppelosi. we'll bring you that when it happens. >>> meanwhile, corporate america preparing for a worst case scenario. the chairman and ceo of chevron will join me. keep it here on "the closing bell." the interview you won't hear anywhere else today. >>> up next, is anyone bucking up to save the twinkie? kayla is next with the update on hostess suitors on the other side of the this break. back in a moment. or that printing in color had to cost a fortune. nobody said an all-in-one had to be bulky. or that you had to print from your desk. at least, nobody said it to us. introducing the business smart inkjet all-in-one series from brother. easy to use. it's the ultimate combination of speed, small size, and low-cost printing. looking for a better place to put your cash? here's one you may not have thought of -- fidelity. now you don't have to go to a bank to get the things you want from a bank, like no-fee atms, all over the world. free checkwriting and mobile deposits. now depositing a check is as easy as taking a picture. free online bill payments. a highly acclaimed credit c
adviser, robert wolf, former chairman of ubs america and now on reuters television. thank you for joining us. do you agree regardless of who takes the white house, investors will see tax increase? >> yes. we're all talking about the fiscal cliff. we need revenues. irrespective of who comes in to fix the debt, you'll have to raise taxes. it's clear to me. how far will they go up, do you think? people are worried about didividend taxes, 43%, which is where they'll go if they don't do anything about it by the end of the year. 15% to 43%. that sounds like a major ouch for this market. >> to me that seems like it's going to happen. i would say 20 plus, 22%, 23%. income back to the clinton era, 39.6%. i don't know where they're getting 43% from. >> that's where it was. when the bush tax cuts expire it goes to 43%, unless they change that. >> you may not get in the lame duck session a big deal done, but if you find $60 billion, that saves you six months of time to get a real deal done when president obama is in office. >> the same with capital gains. you're expecting capital gains similar -- >>
's a tremendous amount of pent-up capacity in corporate america if we can just get the right fiscal policies in place. this economy could do well. >> do you think things loosen up after the election when we know who the president will be? >> i think it depends. then we're going to have more clarity on the policies. what we want in place are constructive growth oriented fiscal policies. >> and we don't know we'll get those. rick santelli, jump in here. we had a market under pressure for sure today. you hear what chip is saying in terms of those policies. what would snap investors out of this? >> i think what would snap investors out, of course, to start to see some, a, larger and more job creation. also getting things like tax policy out of the way. i will tell you, the discussion on the floor, many talking about the dollar. is it qe, or is it romney? are the effects of the weaker stock after the number, are they effects of a stronger dollar after the number really because of qe, or are they because not only do we potentially have a challenger that's close enough to win but if that challenger
work their butts off and are simply not capable of living decent lives. america can do better. it would be good for the economy. >> walmart is paying these workers more than minimum wage, which is what they're required to do. if they joined a union, then their dues would go to the large amounts of political contributions and lobbying and political activity that the united food and commercial workers union was giving about $10 million last year. we have a disagreement. >> the adee lodideological atta unions you're entitled to. >> what about the dues being used for political contributions? >> those are check-offs. those are not the same thing. the legal arguments that are being made here today are so off the wall. >> they are not. what about the underfunded pensions? 55%, 65 in the red zone. >> you can talk about what it's like to raise a family on $15,500. those economics are bad for the united states. you must pay workers enough to buy the products they sell. when you justify impoverishing hard-working people, you will see, as the report points out, it has a negative effect on job creat
the country's fiscal issues. >> we're just here to support doing the right thing, putting america back to work. >> we don't legislate, but we know a lot about what the consequences are of the failure to reach an agreement. >> the only way democracy works is through compromise at the end of the day. >> i'm optimistic that we can continue to work together to avert this crisis. >> our ultimate goal is an agreement that gets our long-term deficit under control in a way that is fair and balanced. >> a reversal of fortune on wall street. stocks trade on fiscal cliff comments from president obama and john boehner. >> no substantive progress has been made in the talks between the white house and the house over the last two weeks. >> republicans know where we stand. we've said it, we've said it, we've said it so many times. >> i think all of us today are confident we can reach a bipartisan agreement by christmas time. >> according to congressional republican aides, they say they have obtained a copy of the white house's proffer here. at least $50 billion in new spending. >> do you have faith in any of
republican to fight socialism. listen to this. >> america's wealth comes from the efforts of people striving for success. take away their incentive with bad mouthing success, and you take away the wealth that helps us take care of the needy. yes, in socialism the rich will be poorer. but the poorer will also be poorer. people will lose interest in really working hard and creating jobs. >> so will his efforts pay off? joining us now for an exclusive interview is the man himself, thomas peterffy. mr. peterffy, good to have you on the program. thanks for joining us. >> thank you for having me. >> so you cast your vote obviously for romney this afternoon. if we wins, what does that mean for the markets and the economy in your view? >> on short term, markets go up if romney wins. they go down if obama wins. on the long term, i think the situation is reversed. because if obama wins and we would see that the next four years similar to the last four years, high deficit spending, easy money, and inflationary policies, then i would think that the dollar will depreciate relative to stocks fast and far.
session. >>> and america's business leaders invited to the white house to chime in on fixing the debt and solving the fiscal cliff. but not one bank ceo is on the guest list. why is that? exclusive reaction from a top banking boss coming up on the "closing bell." [ female announcer ] e-trade was founded on the simple belief that bringing you better technology helps make you a better investor. with our revolutionary e-trade 360 dashboard you see exactly where your money is and what it's doing live. our e-trade pro platform offers powerful functionality that's still so usable you'll actually use it. and our mobile apps are the ultimate in wherever whenever investing. no matter what kind of investor you are, you'll find the technology to help you become a better one at e-trade. >>> welcome back. network giant cisco systems is out with its first quarter results tonight. let's go straight to the top. we're joined right now in a cnbc exclusive by chairman and ceo john chambers. always nice to have you on the program. welcome back. >> maria, a pleasure to be back. i was trying to figure, i t
trajectory is growing. america is on a pretty solid path. i think that has to be the aperture through which you make these analysis. i'm not all into anything because, yes, there's uncertainty out there. companies are making money. multiples are compressed. they tend to expand when revenues go down. i think there is good reason to be in this market. >> to put a fine point on it, stan, you wouldn't buy this market because you're fearful of what's going to happen in washington? >> well, i would say there's a good argument to be made for timing the market. that is, if you're expecting, as i think is going to happen, the market's going to react or overreact after we hit the fiscal cliff and go over it. >> do you think it will go down? >> yes, i do. but it will be emotional as opposed to substantive at that point. zachary's right, this will be recoverable shortly thereafter. if we go over the fiscal cliff, it's like the peasant storm, the castle with pitchfork strategy. and then this will all be fixed retro actively. >> i'll meet with you my pitchfork, okay? a little pitchfork party. >> thanks,
vi insent vise debt in america. >>> ceos will be meeting with president obama. >> mary kay henry is president of the service employees international union. she's been on capitol hill imploring lawmakers to focus on tax issues now and spending issues later. it's great to have you on the show. welcome. >> thank you, scott. glad to be here. >> are you guys willing to put so-called entitlements on the table? can we put those on the table, social security, medicare, all of these things that need to be dealt with? >> scott, they were on the table a year ago. $1 trillion of cuts have already been made to those programs. we think the top priority is to have the wealthiest pay their fair share and get jobs created so we can spur the economic recovery. >> okay. let's pretend you got that tomorrow. republicans say, that's it, we're going to get it done. we're going to raise taxes on the upper income individuals. then could we reform medicare? >> well, if we get this country back to work, there is a lot of room to have a conversation about how it improve the delivery of health care, but we h
square and whether it can go global the way twitter has. >>> somebody says corporate america has gone overboard when it comes to ceos being fired for having heat affairs. >>> shocking allegations. john mcafee, founder of the software company has been accused of murder in belize. stay with us on this story. ♪ [ female announcer ] today, it's not just about who lives in the white house, it's about who lives in the yellow house, the green, and the apartment house, too. today we not only honor the oval office, but we honor the cubicle, and the home office as well. because today it's about all of us. and no matter who you are, you're the commander-in-chief of your own life. ♪ you're the commander-in-chief of your own life. if we want to improve our schools... ... what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ... nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. (car horn) payin
the fiscal cliff, most of america's going to blame the republicans in the capitol mi behind me. if i'm the president, i'm focused on the top line number. i've consulted with my economic advisers. it's probably not the 1.6, but sadly, it's probably north of the 1 trillion number. that's what i'm going to push for. as robert said, i'm in a position to give, but i need to get the top line number i need. i'm open to virtually up a options. it may be difficult to do without tax hikes, but i'm open to anything and ready to negotiate. i've set the stage for what i think is my ability to appear generous but nonetheless be effective. >> but when he says i'm open to any and all ideas, i mean, what other ideas are there? it's either broadening the base and, you know, eliminating loopholes or raising taxes. i mean, in terms of the revenue, what are the ideas? am i missing something? is there any other idea? >> i think it's a question of how one side allows the other to portray is, which is if the entire discussion is all about taxing a certain class of americans, that's going to put either side
line is corporate america's balance sheet is still good. you have to start to get into a defensive strategy. gouk wi you can go with the majors. position yourself if case something happens. housing is a good area. seems to be a bit recession proof, or at least less likely to feel the effects of the fiscal cliff. yeah, you've got to be nimble here. you have to be prepared. you have to have your hedging strategy. this is a real professional's market going into the end of the year. >> rob, real quick, do you have a strategy? >> i still like the large-cap stocks. even though they pay dividends, they're going to be adversely affected if with go over the cliff, they're multinationals that can reach into the emerging pockets of the world where growth is. i think they're good for a choppy market. >> gentlemen, thank you. >> what about munis? tax advantages. >> absolutely. >> good point, rick. >> good spot. >> rick santelli has a fiscal strategy. i should have known. thanks, everybody. we'll see you soon. gentlemen, thank you. not the rally we had yesterday. not by a long shot. over to bert
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in retail furniture. brown forman in the distillery. it is corporate america. it's not just one group doing this. i made the argument to you during the commercial break. it's good pr if nothing else. >> it's only good pr for the people who don't understand it. yes, i'm getting something back today. but if you look at it as a signal of what's going to happen, what it means for the future growth of the company, i don't think it's such good pr. >> maybe it's a signal about the economy. maybe they're saying they don't have the anything better to do with it. did you see what's happening with taxes likely? it's going to be maybe a tough economy. maybe they telling us this is the best -- and wouldn't you rather have it than blow it on some junky mna deal or hire when it would be a bad time to hire? >> about half of the returns from stocks since 1926 have come from dividends. it's not an insignificant part of the total return over a long period of time. listen, i don't know if companies are really fooling people anyway. if you have all the cash sitting on your balance sheet that's earning zero, tha
Search Results 0 to 19 of about 20